Corporation managers have just six weeks to designate their operation as a small or medium enterprise and avoid paying the persona juridica tax for 2015. The tax this year was 199,700 colons, nearly $370, and the amount is expected to be higher in 2015.
Under the law, those corporations that are registered as a mipyme with the Ministerio de Economía, Industria y Comercio do not pay this tax. Mipyme means micro, pequeña o mediana empresa, that is a small- or medium-sized business. There is no charge for registering, but the process has to be repeated each year.
The ministry said that any applications that are received by Dec. 12 will be processed in time so that the company is exonerated from the 2015 corporate tax.
But tax relief is only one of the advantages. Companies and individuals with the designation have an advantage in seeking government contracts and access to various forms of government-supported training. Other government agencies and some private banks and other firms have special programs for mipymes.
Registration can be done online at www.siec.go.cr, but there will be additional documents that need to be submitted.